What’s going on with Spirit Airlines and could the White House bail them out?

Soaring fuel prices are threatening air carriers around the world, and in the US the White House is scrambling to save the long-troubled Spirit Airlines.The carrier is in bankruptcy court and is quickly running out of cash. Reports last week suggested that the Trump administration was in talks to loan as much as $500m to the company as it teetered on the brink of liquidation. Then on Thursday, Donald Trump told reporters the federal government might buy the ailing airline.“We’re thinking about doing it, helping them out, meaning bailing them out, or buying it,” Trump said, adding that the government could “sell it for a profit” when oil prices come down

G7 central banks poised to hold borrowing costs amid concerns over prolonged Iran war

The world’s most powerful central banks are poised to hold borrowing costs unchanged this week amid growing concerns over the unfolding inflation shock from the Iran war.In a critical week for the global economy, each of the central banks in the G7 are expected to issue warnings over the risks from the Middle East war driving up prices for households and businesses.Financial markets are braced for signals from the central banks of the US, Canada, Japan, Britain and the eurozone on the prospects for interest rates amid concerns that a prolonged conflict could force them to keep borrowing costs higher for longer.“Another week of no fighting, no deal and no energy flows, another week that pressure on inflation and supply chains continues to build,” said Wei Yao, an analyst at the French bank Société Générale.“We will probably see all the major central banks sticking to the strategy of ‘keep clam but stay vigilant’

HSBC ‘reviewing’ private school perk for bankers in Hong Kong

HSBC is reportedly reviewing a perk that covers school fees for bankers in Hong Kong as part of a big overhaul of the bank under its chief executive, Georges Elhedery.Europe’s largest bank is considering whether to scrap the perk for new employees or make changes to total compensation, Bloomberg News reported. No decisions have been made yet.Hundreds of staff in Hong Kong – HSBC’s biggest market – benefit from the subsidy, which costs the lender tens of millions of dollars a year, and is not available in its other hubs around the world, reportedly leading to tension at its headquarters in London.It is also not offered to staff of Hang Seng Bank, which HSBC acquired in full in January for £10bn and delisted from the local stock exchange

Nationwide could have first customer on board for nearly 25 years

Nationwide building society could have a customer on its board for the first time in nearly a quarter of a century after one of its longtime members secured enough support for a spot on the lender’s annual ballot.James Sherwin-Smith will be up for board elections at Nationwide’s annual general meeting (AGM) in July, having gathered more than the 250 peer nominations necessary to run alongside existing directors.If successful, the 45-year-old from West Sussex would be the first Nationwide customer – known as members – to sit on the board of the building society for 24 years, with the last having retired in 2002.The last time a member-nominated customer was even on the AGM ballot was 2005, though they failed to secure enough votes to be elected to the board.The building society’s board members are typically appointed by the existing directors

Gina Rinehart calls for immigrants’ social media to be screened in Anzac memorial speech

Australia’s richest person, Gina Rinehart, called for immigrants’ social media to be screened and said children are being taught to be ashamed of the Australian flag in untelevised remarks before an Anzac memorial service on the steps of Sydney Opera House on Friday.Rinehart’s public appearance was attended by about 4,000 people and sponsored by her company, Hancock Prospecting, and RSL New South Wales.Rinehart claimed the Australian government was wasting money, eroding freedoms, running an ineffective defence force, leaving veterans homeless, teaching children to be ashamed of the Australian flag and doing nothing in response to “death chants”.“Our immigration procedures must only allow immigrants who have been thoroughly checked – including their phones, iPads, laptops and social media,” Rinehart said in a speech later posted online.“We need to protect our country – and welcome only peace-loving, contributing immigrants to our shores

Children’s shoe retailers say closure of specialist shops is harming foot health

Parents should care for their children’s feet in the same way as their eyes and teeth, according to footwear specialists who say they are seeing more young people with painful conditions such as bunions.Bunions are bony lumps on the side of the foot. People can be genetically pre-disposed but ill-fitting shoes are seen as an aggravating factor.Nadia Arden-Scott, a co-founder of Footwear Hub, said: “Parents have been led to believe that fitting shoes is simple and can be done at home, when the reality is that do-it-yourself shoe fitting is potentially causing long-term damage to their child’s feet.”Data from the property analysts Green Street shows that more than 1,000 shoe shops have closed in Great Britain since 2020